LSV Asset Management Sells 101,000 Shares of Manning and Napier Inc (MN)

LSV Asset Management trimmed its holdings in shares of Manning and Napier Inc (NYSE:MN) by 43.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,200 shares of the asset manager’s stock after selling 101,000 shares during the period. LSV Asset Management owned about 0.86% of Manning and Napier worth $452,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BlueCrest Capital Management Ltd acquired a new position in shares of Manning and Napier during the fourth quarter worth $128,000. Kovack Advisors Inc. acquired a new position in shares of Manning and Napier during the fourth quarter worth $131,000. Spark Investment Management LLC lifted its position in shares of Manning and Napier by 176.8% during the fourth quarter. Spark Investment Management LLC now owns 114,600 shares of the asset manager’s stock worth $412,000 after purchasing an additional 73,200 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Manning and Napier during the fourth quarter worth $468,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Manning and Napier by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock worth $1,449,000 after purchasing an additional 18,656 shares in the last quarter. 54.29% of the stock is currently owned by hedge funds and other institutional investors.

NYSE MN opened at $3.40 on Thursday. Manning and Napier Inc has a 52 week low of $2.95 and a 52 week high of $4.95. The firm has a market cap of $51.34 million, a PE ratio of 10.15 and a beta of 1.42.

Manning and Napier (NYSE:MN) last posted its earnings results on Wednesday, May 2nd. The asset manager reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Manning and Napier had a return on equity of 18.81% and a net margin of 1.54%. The firm had revenue of $42.22 million for the quarter, compared to analyst estimates of $41.38 million. research analysts anticipate that Manning and Napier Inc will post 0.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Friday, July 13th will be paid a $0.08 dividend. The ex-dividend date is Thursday, July 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.41%. Manning and Napier’s dividend payout ratio (DPR) is presently 80.00%.

Separately, Zacks Investment Research cut shares of Manning and Napier from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th.

Manning and Napier Profile

Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.

Want to see what other hedge funds are holding MN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manning and Napier Inc (NYSE:MN).

Institutional Ownership by Quarter for Manning and Napier (NYSE:MN)

Receive News & Ratings for Manning and Napier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manning and Napier and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit